Growth comes from building the right capabilities – not by chance

This year’s theme at Alihankinta – growth and internationalisation – is closely aligned with what I see in my work every day. Companies want to grow, but growth does not happen without the right capabilities to take the business to the next level. Growth is not a matter of chance. It is a choice – and that choice is reflected in the people a company brings on board to build its next phase of growth.

Finland has a wealth of expertise, advanced technology and world-class companies that can hold their own against competitors anywhere. We have companies that outperform many of their international peers and expertise that is highly valued around the world. Yet growth is not happening as quickly as it could.

The reason is often not technology. Rather, too many Finnish growth companies are building their businesses in a market that is simply too small for their ambitions. Particularly when growth is organic, entering a new market requires a long-term commitment and finding the right people in the target market.

Growth requires new capabilities

Companies that place internationalisation at the heart of their strategy may, on the other hand, overlook one fundamental fact: ultimately, strategy is executed by people. Entering a new market is not simply about taking an existing business to another country. A new market brings a different competitive landscape, customers, networks, culture and ways of working. Leadership requirements are different, too. A company may need international commercial expertise, knowledge of the local market, the ability to lead a multicultural organisation or experience in scaling a business.

This brings us to the key question: do we have the right expertise and capabilities for the next phase of growth?

Finnish companies talk a great deal about exports and internationalisation strategies. Far less often do we ask whether the company has the right people to execute its chosen growth strategy.
 

People turn strategy into action

According to the CEO Index we conducted together with Listeds, change is a constant in listed companies. Leadership is continuously assessed and developed, rather than addressed only when a crisis forces action. Leadership is seen as an integral part of a company’s long-term capabilities.

When a CEO changes, it is rarely just about filling a single position. Often, the wider management team changes as well, with new leadership brought in to execute a direction that was defined before the first recruitment even began.

International CEOs are still relatively uncommon in Finnish listed companies, but when they are appointed, the reason is clear: the company needs expertise that is not available in the domestic market. An international executive is not simply an added bonus. They bring market insight, networks and a different way of looking at the business. Someone coming from outside may identify growth opportunities that have previously gone unnoticed. These factors can make a decisive difference in how quickly a company is able to enter new markets.

Appointing an international CEO also often triggers broader change. Other international professionals follow, and the company begins to become genuinely international rather than simply operating in another market. This is something Finnish companies should be encouraged to embrace.

In 2025, Etla Economic Research published a study showing that more than 70% of Finnish manufacturing companies did not employ a single person with a foreign background. The same study found that even a company’s first international hire can immediately support the implementation of its growth strategy in terms of overall exports.
 

The first international hire builds readiness for growth

The first international hire is always the biggest step for a company. It requires the organisation to consider language, onboarding, management practices and the practicalities of everyday work. But building these capabilities is precisely what makes a company stronger. It creates a foundation for the next international hire and, more broadly, for international business. That is why a company should not postpone its first international recruitment until a talent shortage leaves it with no other choice. The earlier a company develops the capabilities needed to lead an international workforce, the better prepared it will be for growth.

Growth starts with people and the right capabilities. At SAM, we help companies build the capabilities their next leap in growth will depend on – whether that means appointing a CEO, strengthening the management team or making the company’s first international hire. Growth happens when the right people are at the table. We would be happy to continue the conversation at the Subcontracting Trade Fair. Come and meet us at our stand and join us for our presentation.